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 Black Stats  
Frequently requested data on African American consumers

Black Buying Power:
 $836 Billion (2010)

Black U.S. Population:
 41.1 million

Top Five Black Cities
 - New York
 - Chicago
 - Detroit
 - Philadelphia
 - Houston

Top Five Black Metros:
 - New York-New Jersey
 - Washington-Baltimore
 - Chicago-Gary
 - Los Angeles
 - Philadelphia

Top Five Expenditures:
 - Housing $203.8 bil.
 - Food $65.2 bil.
 - Cars/Trucks $29.1 bil.
 - Clothing $29.3 bil.
 - Health Care $23.6 bil.
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JPMorgan Chase investment unit buys stake in Johnson Publishing Co.

(Johnson Publishing Company released the following announcement today regarding the sale of a minority equity stake in the company.)

(July 6, 2011) Johnson Publishing Company, Inc., the nation's preeminent publisher of EBONY and JET magazines and owner of Fashion Fair Cosmetics, a global prestige cosmetics brand for women of color, today announced that JPMorgan Chase's Special Investments Group (SIG) will become an investor in the company. Terms of the investment were not disclosed.

Linda Johnson Rice, chairman of Johnson Publishing Company, said, "J. P. Morgan Chase's investment in our firm is a logical outgrowth of our longstanding relationship.  It positions Johnson Publishing for continued growth as a family-owned publisher of the Black community's most-trusted media brands by providing financial resources to take our iconic EBONY and JET magazines to the next level and accelerate our growth strategy for Fashion Fair Cosmetics."

"We are grateful for the support of our readers, advertisers and business partners, and we are excited about the future opportunities this investment creates for our company," Rice added.

EBONY and JET have served the Black community for more than 60 years. With circulation of 1.25 million copies per month and 800,000 per week, they are the number 1 and 3 publications, respectively, focused on Black America. Launched in 1973, Fashion Fair Cosmetics is a global prestige cosmetics brand for women of color that is currently sold in the United States, Canada, the United Kingdom, France and the Caribbean.

Greg O'Hara, head of SIG, said, "We are delighted to partner with our client Johnson Publishing Company, with which we have worked for more than 40 years. This investment demonstrates our commitment to Johnson Publishing's iconic brands, which have stood the test of time."

(Exclusive details about the this story will be posted later today on targetmarketnews.com)


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New "Buying Power" report: Black consumers spend as economy grows
Details $507 billion in expenditures

African-American consumers are cautiously increasing their spending in some key product categories, even as they continue to make adjustments in a slowly growing economy. The finding comes from the 16th annual edition of "The Buying Power of Black America" report published by Target Market News..

In 2009, black households spent an estimated $507 billion in 27 product and services categories. That's an increase of 16.6% over the $435 billion spent in 2008. African-Americans" total earned income for 2009 is estimated at $836 billion...

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